Maputo, Mozambique, 2 Sept – Funding of US$13 million from the Indian government to build a solar panel factory in Mozambique is now available, and the respective funding agreement was signed Thursday in Maputo, Mozambican newspaper Notícias reported.
The funding was provided by Indian state export import bank, ExIm, whose chairman, TCA Ranganathan, signed the document together with Mozambique’s Finance Minister, Manuel Chang.
The factory, which will be built in Beluluane, in Boane district, will produce photovoltaic units with a 5 megawatt capacity each to manufacture solar panels that will provide electricity in the most remote parts of the country.
Construction of the factory, which will be built on a plot of land covering almost 2 hectares, will begin this year and work is expected to take around 18 months.
The ceremony was also attended by the president of the National Energy Fund (Funae), Miquelina Menezes, who said that this would be the first factory of its kind in Mozambique and added that there were proposals for construction of similar facilities put forward by China and Portugal. (macauhub)